83003602 - Laserfiche WebLink

Browse

7. CGemlemmltiou- In the event the Property, or any part thereof. shall be taken by eminent domain, the ~ isempo'l\l'eTledtoioo1rectandreceive aD compensation wbidl may be paid for any property taken or for damages to property not taken, and' Mortglltee shaD apply sudl. COOlpensatiOl'l, at its option, either to a reduction of the indebtedness secUl'ed berl~by or to nipail' and restore the property so damaged. 8. Performaoceby Mortgagee. Mortgagee may, but shall have no obligation, to do any act which the Mortgaf'{Or has agreed but fails to, do, and Mortgagee may also do any act it deems necessary to protect the lien hereof. Mortgagor agrMS to repay, IIlpon demand, any sums so expended by the Mortgagee for the above purposes, and any sums so expended by the Mortgagee Shalll be added to the indebtedness secmed hereby and become subject to the lien- hereof. Mortgagee shal1 not ineuU:l1l~t peroJonal liability because of 1Ulything it may do or omit to do hereunder. 9. Default; Assignment of Rents. f'ime is of the essence hereof, and upon Mortgagor's defaUlt in any covenant or agreement of this Mortgage, including covenants to pay when due the sums secured by this Mortgage, the Mortgagee shaD. be entitled; at. its sole option and without nonce', to declare all sums secured by this Mortgage.to be immediate~ due anll payable and. may eommenceforecIosure of this Mortgagt> by judicial proceedings; and, provided further; that upon suCh default tbeMortgagee" or a receiver appointed by a court, may at its option and witbout regard to the adequacy ofthe n and take possession of tbe Property and collect the rents; issueS and profits therefrom and apply them .cost of coHedron and operation of the Property and then upon the indebtedness secured by this Mortgagee; said rents; issllffllll1d profIts. being assigned to the Mortgagee as further security for the payment of the. indebtetlness secured hereb}-. 10. TranSfer oj: Property. If all or any part of the Property is sold or transferred without the express written cOD- sent .of the Mortgagee, Mortgagee may at its sole option, declare allsums.secured by .this Mortgage to be immediatelydlle and payablt'. 11. Future l\dvances. Upon request of Mortgagor, Mortgagee may make additional and future. advances to . Mortgagor. Such advances, with interest i.'lereon, shall be secured by this Mortgage wilen evidenced by promissory notes stating that said notes are secured hereby. At no time shall the principal amount of the indebtedness secured by this Mortgage, not.including sums advanced to protect the security ofthi.~ Mortgage, exceed the original Note. 12. Miscellaneous Provisions. (a) Any. fore.hemmcein exereising any right or remedy shall. not be a waivertl1ereof. (b) All tlmlewes provided herein are distinct and cumulative to any other right afforded by law or equity, and may be exercisedooncurrently,independent!y or successively. (c) The. covelllluts . and agreements contained herein shall bind, IInd the rigb,ts inure to, the respective successors lIndassignsof the Mortgagor tll1dtheMortgagee. (d) All Cl(}venants andagn'llments of the J\'fortgagorare joint and several. (e) The liteadin,~ of the paragraphs ofth.ls Mortgage are for c.ol1llenience only and. shall not be used to inter- pret. '~r defillfl .the provisions hereof. 13. aeJe-. Upon paymt!nt of all sums secured by this Mortgage, Mortgagee shall discharge this Mortgage and shall execute and deliv.l~r a sati$,fuetory mleasetherefor. IN WITNESS WHEREOF',Mortgagor has executed this. Mortgage on day of ~Uly _,1983-. $' day 1983-. beCore me, the undersigned,.a Notary Public . 4uly co~missionedand ql,!alifted for said county, personally came. Alf.red W. Beclder and Judith K. Beckler, to me known to be the the execution thereof